If Kobe, an NBA star athlete, earns $10 million per year but has no money in the bank, he has a
a. high income and high wealth.
b. low income and high wealth.
c. high income and low wealth.
d. low income and low wealth.
c
Economics
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When network externalities are present, the market demand for the good in question becomes:
A. less elastic. B. more elastic. C. unit elastic. D. perfectly inelastic.
Economics
When people use all the relevant data and principles of economics to forecast inflation, they are making
A) what is called a "data-based forecast." B) an always accurate forecast. C) a mistake. D) what is called a "rational expectation." E) an exaggerated forecast.
Economics